SE Asia Stocks-Stumble as ECB disappoints; Singapore falls most in 1 month

viernes 9 de septiembre de 2016 01:23 GYT

By Krishna V Kurup
    Sept 9 (Reuters) - Most Southeast Asian stocks fell on
Friday, tracking broader Asian markets, on uncertainty over the
prospect of further easing from the European Central Bank while
sentiment was also hit following reports North Korea had
conducted a nuclear test.
    ECB President Mario Draghi, speaking after the central bank
kept its policy on hold as expected, said the bank will study
policy options to ensure it can pursue its unprecedented
money-printing programme but did not hint at the anticipated
extension of its asset purchases, maintaining the March end-date
in an unexpectedly balanced message.  
    Markets are reacting as they were expecting signals of
further easing from the ECB, while lowering of growth and
inflation forecasts for the next two years further dampened
sentiment, said Victor Felix, an analyst with Manila-based AB
Capital Securities Inc, adding that the downtrend would continue
next week.
    Indonesian shares fell 1 percent to their lowest in
nearly 4 weeks, weighed down by financials and consumer staples.
Bank Rakyat Indonesia (Persero) Tbk PT fell 1.5
percent, while Unilever Indonesia Tbk PT dropped
nearly 1 percent.
    "Expect JCI (Jakarta Composite Index) to trend lower as ECB
chief Draghi downplayed additional stimulus into the system,"
Taye Shim, an analyst with Daewoo Securities Indonesia, said in
a note.
    "However, we see limited pressure to the downside given oil
price rallied overnight." 
    Oil prices pulled back a little after surging more than 4
percent on Thursday to two-week highs on surprisingly large
drawdown in U.S. crude stocks. 
    Singapore declined as much as 1 percent in its
sharpest fall since Aug. 3, with financials and telecoms being
the biggest drag.
    Singapore Telecommunications Ltd fell 1.7 percent,
while DBS Group Holdings Ltd lost 1.3 percent.
    Malaysian shares were marginally lower, with
financials and utilities among the biggest losers. Genting Bhd
 fell 1.4 percent, while Tenaga Nasional Bhd 
lost 1.1 percent.   
    Industrial production grew 4.1 percent in July compared with
a year earlier, government data released on Friday showed.
    Bucking the broader Asian trend, Vietnamese stocks 
rose 0.5 percent, led by utilities and financials. Vietcombank
 gained 6.3 percent, while Petrovietnam Gas Joint Stock
Corp was up 1.6 percent.

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  STOCK MARKETS                                           
  Change at 0420 GMT                                      
  Market              Current       Prev close   Pct Move
  Singapore           2870.16       2894.48      -0.84
  Bangkok             1456.31       1455.38      0.06
  Manila              7628.83       7667.07      -0.50
  Jakarta             5317.424      5371.078     -1.00
  Kuala Lumpur        1685.56       1691.38      -0.34
  Ho Chi Minh         669.33        666.07       0.49
  Change on year                                 
  Market              Current       End 2015     Pct Move
  Singapore           2870.16       2882.73      -0.44
  Bangkok             1456.31       1288.02      13.07
  Manila              7628.83       6952.08      9.73
  Jakarta             5317.424      4593.008     15.77
  Kuala Lumpur        1685.56       1692.51      -0.41
  Ho Chi Minh         669.33        579.03       15.60
 (Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Sindhu Chandrasekaran; Editing by Subhranshu Sahu)